Xometry downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Xometry to Sector Perform from Outperform with a price target of $21, down from $45. The analyst is rethinking the company’s growth, margin and valuation framework due to macro pressures and volatility in the model. The firm would like to see evidence of stabilization in trends and Thomas synergies. It thinks the stock is likely range-bound in the near-term following the "disappointing results off lowered guidance."